Blockchain

Fiat-Pegged Cryptocurrency

Problem Statement

A stealth mode startup was planning to launch untraceable US dollar-pegged cryptocurrency with transaction privacy. Their main challenge was to build the blockchain network constituting a consortium of stakeholders that would validate the transactions submitted to the network. Any authorized third-party exchanges and banks could securely consume the services exposed by the blockchain network.

Solution

We developed a permissioned private blockchain network using Hyperledger Sawtooth. Byzentine Fault Tolerance (BFT) consensus algorithm is integrated with the blockchain network. API layer was built over the blockchain network for third parties like exchanges; this layer also ensured uniform distribution of requests over multiple validators in the Sawtooth network.

Desktop based wallet was built for end-users to submit transfer transactions to the blockchain network. We integrated the blockchain network with Bank APIs ensuring secured atomic conversion of fiat currency to cryptocurrency and vice-a-versa. Chain explorer was developed to browse through historical transactions.

Technologies

Sawtooth Hyperledger, Node.js, Go, Rust

Universal Shoppers Profile on Blockchain

Problem Statement

The business idea was to develop a platform where shoppers would have a universal shopper profile stored over a blockchain and retailers could provide a personalized shopping experience to the shopper. Shoppers will get rewarded based on the value of the data they fully own, control and share. A shopper could transact using “Shopper” tokens which can be bought using any crypto-currency.

Solution

We used EOS blockchain to store encrypted user profile. We developed a smart contract which manages the permission and lifecycle of shopper profile. REST API layer is developed over EOS blockchain. ERC-20 equivalent shoppers tokens are created on a private permissioned blockchain. We build a mechanism to ensure atomic conversion of ether to Shopper tokens using hash time-locked contract-based solution. We are evaluating the feasibility of using payment channels for the private blockchain so that it can scale.

Technologies

EOS blockchain, Interledger protocol . node.js, bigchaindb, ethereum, Machinomy, µRaiden

Asset Tokenization

Problem Statement

A real estate investment firm was looking to build a platform where retail investors can invest in funds using crypto-currencies. Each fund was based on some theme.

Solution

Each of these funds was tokenized using ERC20 tokens on the ethereum network. A smart contract was developed to create fund tokens, and the user could buy these tokens to invest in the fund. These tokens could be traded on exchanges. As a part of the token smart contract, a mechanism was built to distribute dividends to token holders.

Technologies

Ethereum, Solidity, Docker

ICO Launch Platform

Problem Statement

The objective was to build a platform that will automate the software development work required to launch an ICO on Ethereum network. The end user could customize an ICO by providing required parameters.

Solution

A platform was developed that helped the end user to generate solidity based smart contract. The user could deploy the contract and launch an ICO on the ethereum networks, including testnets. All this could be done using any browser that has MetaMask plugin installed.

Technologies

Ethereum, Solidity, MetaMask, Web3.js

KYC/ AML for Banks

Problem Statement

One of the payment solution providers was looking to develop a solution that can store KYC data in the blockchain, and it should be retrieved using custom keys.

Solution

We developed MultiChain based blockchain solution for storing KYC data for the banking system. This solution exploited MultiChain capability of searching based on custom keys.

Technologies

MultiChain, Node.js

Medical Records on Blockchain

Problem Statement

Storing medical data in a public chain can expose data for unauthorized parties to see. Many in the industry have chosen to store the data in a private chain validated by a small set of collaborators. However, it doesn’t provide control to the patient to share the data with certain members of the collaboration.

Solution

We proposed a mechanism to store medical records in blockchain such that these records were private and could be disclosed selectively on demand. This anonymity was achieved by adding transaction mixing by a modified unique ring signature.